So, any input would be both welcome and appreciated.We (my wife and I as tenants in common) own a 5 plex that we purchased for $250,000 with $20,000 down, owner financed.

We have something in common : ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ I also have a computer programming education background (MCS) Regardless, welcome to BP

In that scenario, the lender will usually lend a less LTV%, but the mobile won't need to pass any inspections, etc.

I think it will have a wet bar, which is a pretty common thing to put in basement "bonus spaces."

I was sitting here brainstorming ways to apply some of the outsourcing principles to my involvement as a new investor and thought I'd go public, since many minds are always better than one.So far I have a small list going, but would love to hear if you all have any other ways you have put either outsourcing, or any other 4HWW (muse creation, 80/20 rule, etc.) into your real estate businesses.Here's what I've come up with so far:Virtual Assistant (VA) tasks:screening MLS for potential dealsyellow letter campaignsGoogle Adwords tracking and implementationmanaging tenant screening process (background checks, tenant checks, etc.)tracking down absentee property ownersgenerating a list of every commercial building owner in your towncollection and aggregation of data in due diligence process for a commercial purchaseresearching cash buyers in targeted markets identifying common expense items in a new market (trash, electric, water, property tax rates, etc.)What else might make sense?

Think through the worst case scenario is it went south; if you end up homeless what is your back up plan?

It's good you're using the asking price as worst case scenario.

I work in remodeling and renovation professionally and learned everything from hands on experience and common sense.

Katy,Here are my assumptions on "Where's Waldo" on this Google Maps scenario.1.

People rent for many reasons, but some common ones are: 1) they do not have sufficient resources to make the downpayment on a property purchase; 2) they do not have the credit history to qualify for financing; 3) they are in the area temporarily, or periodically, and do not wish to establish roots (students, oil field workers, politicians & staff attending the legislature, etc); 4) home ownership is just not right for some folks.